Pakistan Stock Exchange (PSX) scaled a new peak on Wednesday as the smooth-sailing of Shanghai Cooperation Organisation summit lifted investor morale, stoking hopes for regional, political, and economic stability further fuelling the earnings season rally.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index surged 673 points to touch 86,513 in intraday trade as of 10:41am, up from yesterday’s close of 85,840 points.
Ahsan Mehanti at Arif Habib Corporation, in conversation with Geo.tv, said that stocks rallied as investors considered reduced political uncertainty and economic gains from the SCO summit.
“A decline in bond yields and the government’s discussions about privatising state-owned enterprises contributed to the bullish activity in PSX,” Mehanti added.
This is a developing story and is being updated with more details.
